Pan-United Corporation - UOB Kay Hian 2024-06-20: Market Leader With Concrete Growth Prospects, Proxy To Construction Boom

Pan-United Corporation - Market Leader With Concrete Growth Prospects, Proxy To Construction Boom

Pan United (SGX:P52) | SGinvestors.ioPan United (SGX:P52)
  • Pan-United is the largest domestic ready-mix concrete supplier with a 40% market share, along with operations in Malaysia, Vietnam and Indonesia. Initiate coverage on Pan-United with BUY. We expect Pan-United’s 2024-26 core earnings to grow by 18-26%, driven by strong demand for cement and concrete.
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Ready-mix concrete supplier specialising in low-carbon concrete technologies.

  • With an around 40% domestic market share, Pan-United Corporation (SGX:P52) is a market leader in cement and concrete supply providing a diverse range of concrete types, and boasts an industry-leading position in low-carbon concrete technologies.
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  • Pan-United also provides digital solutions for construction companies, earning higher-quality recurring revenue.
  • Backed by an increasing number of public and private infrastructure projects, Pan-United is a strong proxy to Singapore’s growing construction demand.

Strong construction pipeline and RMC growth to drive revenue and earnings.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 2024-06-20

Price targets by other brokers at Pan United Target Prices.

Listing of research reports at Pan United Analyst Reports.

Relevant links:
Pan United Share Price History,
Pan United Announcements,
Pan United Dividends & Corporate Actions,
Pan United News Articles


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